Source: Coingecko
Source link: https://www.coingecko.com/research/publications/2024-q1-crypto-report
The cryptocurrency landscape has experienced significant growth in 2024, driven by milestones like the approval of the Bitcoin spot ETF and Lugano city in Switzerland adopting crypto payments. The industry's market cap reached a record $2.9 trillion, with $1.1 trillion added in Q1 alone. Bitcoin surged to a new all-time high of $73k, surpassing its previous peak of $68k.
Top centralized exchanges, including Binance, Bitget, OKX, and Bybit, witnessed notable growth. Bitget excelled remarkably in derivative trading, surpassed OKX in open interest and ranking closely behind Binance and Bybit. Spot trading volume on Bitget surged from $29B in January to $95B in March, elevating it to the top 7 in spot market rankings while maintaining the 4th position in derivatives.
Bitget's outstanding performance has drawn significant industry attention, although other exchanges also experienced remarkable growth. What are your insights on these developments?